08-01-2008, 10:24 PM
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Locking in a loan
I am a newbie as well and need help.
How do you lock in a loan to the interest rate or what locks in a loan?   ?It's a conventional loan, 10% down, purchase price $305,000., Last edited by josie meli : 08-01-2008 at 10:50 PM. 
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08-18-2008, 06:34 AM
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Each lender has a form that you typically fax in for the rate lock. Some will allow you to lock online. Ask your broker or mentor and they'll walk you through it.
If your broker isn't available call your AE with the lender and ask them to email you their rate lock form....or you can ask the AE to lock it for you, but make sure they fax/email you confirmation when the rate is locked just in case something goes wrong later. Hope that helps! Troy
__________________
I build better mousetraps
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08-19-2008, 02:32 AM
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It has thanks.
josie
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